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Income Tax : The article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : The ITAT Mumbai held that sales tax and similar State Government incentives were capital receipts because the schemes were intende...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...
Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...
Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Atma Ram Saria Vs ACIT (Delhi High Court) The Supreme Court in GKN Driveshafts (India) Ltd. vs. Income Tax Officer and Ors., (2003) 1 SCC 72 has held that when a notice under Section 148 of the Act is issued, the proper course of action for the noticee is to file a return and if […]
Nestor Pharmaceuticals Ltd. Vs CPC (ITAT Delhi) The issue in this appeal is related to disallowance of expenditure on account of delay in deposit of employees contribution related to EPF & ESI. The issue is squarely covered by the judgement of Hon’ble Jurisdictional High Court of Delhi in the case of PCIT vs Pro Interactive […]
Pooja Vs ACIT (ITAT Delhi) This appeal is filed by the Assessee against the order of the Ld. Commissioner of Income Tax (Appeals)-38, New Delhi dated 18.03.2019 for the AY 2010-11. When the matter posted for hearing on 09.03.2022 none appeared on behalf of the assessee. The Notice sent through speed post with acknowledgement due […]
Learn about the new concept of Update Return in income tax. Discover the consequences of under reported income and how to rectify it for assessment years.
Sunita Shekhawat Vs Union of India (Rajasthan High Court) 1. The instant bail application has been filed under Section 439 Cr.P.C. on behalf of accused-petitioner Sunita Shekhawat Director M/s Siyaram Exports India Pvt. Ltd. The petitioner has been arrested in connection with case No. 56/2016 for the offence(s) under Sections 276CC Income Tax Act pending […]
Learn about the income tax return filing process for the assessment year 2022-23. Understand the slab rates and due dates, as well as the relevant ITR forms.
Matrimony.com Limited Vs. ACIT/DCIT/ITO (ITAT Chennai) Briefly stated facts are that the assessee company is engaged in the business of providing services in connection with marriage alliance and related services. The company markets its product both through online and offline advertisements. During the year, the company has availed the services of Facebook, Ireland Ltd., for […]
OnMobile Global Ltd. Vs ACIT (ITAT Bangalore) Section 80JJAA of the Act allows for deduction of additional wages paid to new workmen for an industrial undertaking. While the term “industrial undertaking” has not been defined in section 80JJAA of the Act, it has been defined in other provisions of the Act; like section 10(15) and […]
Merely because the Investor Companies have shown meager income during the impugned assessment year, the same in my opinion, cannot be a ground to doubt the creditworthiness of the said company especially when the said company is having sufficient funds in its account in shape of share capital and free reserves.
Mysore Race Club Limited Vs ACIT (ITAT Bangalore) The Income Tax Act prescribes deduction of tax at source u/s 192 to 195 of the Act. The assessee would be liable to deduct tax at source only in respect of payments which are covered by above said sections. The case of the assessee is that it […]
